Avi said:
I bought my first NMAX using crypto, after selling my Montero.
Avi said:
I bought my first NMAX using crypto, after selling my Montero.
What the heck! HAHAHHA.
Avi said:
I bought my first NMAX using crypto, after selling my Montero.
BAHAHAHA!
Do you already have a safety net in place?
- Stable income
- Emergency Fund
- Health Insurance
If not, don’t trade as your main income source. You’ll likely lose your capital trying to chase quick gains, leading to impatience and bad decisions.
Watch Coffeezilla on YouTube before diving into crypto.
Will said:
Watch Coffeezilla on YouTube before diving into crypto.
I agree!
Will said:
Watch Coffeezilla on YouTube before diving into crypto.
Alright, I’ll binge-watch it.
Will said:
Watch Coffeezilla on YouTube before diving into crypto.
Absolutely, he’s great.
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
Spence said:
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
Any suggestions on where to start learning this? Any books or videos?
Spence said:
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
There’s so much I need to learn lol.
Spence said:
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
There’s so much I need to learn lol.
It’s actually fun to learn this stuff. Apps like Robinhood or Acorns made me a smarter investor.
Spence said:
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
There’s so much I need to learn lol.
If you want to avoid losing money, you have to study hard.
Spence said:
My advice: Learn the core principles of investing first, like compounding, diversification, dividends, and ETFs.
There’s so much I need to learn lol.
It seems overwhelming at first, but it’s worth it in the end, trust me. 
For crypto, don’t use Maya; go for Binance instead. There are many YT videos about Binance, so look it up. Another option is coinspro.ph, but I haven’t tried it yet. The good thing about coinspro.ph is it’s regulated by the BSP. Binance isn’t. Remember that crypto is very risky, so only use excess funds or money you can afford to lose. Don’t use your savings for trading.
For stocks, you can trade local or global stocks. For beginners, local stocks are recommended. To start trading on the PSE, create a trading account with an online broker. I personally use COL, AB Capital, and Philstocks.
@Corbin
Got it, thanks!
I’ve been trading crypto part-time for two years now, started in 2020, and I managed to quadruple my initial capital (not boasting, just sharing my experience). There have been lots of ups and downs, and now I’m back to my original capital after withdrawing my profits.
Trading, in general, is like gambling, just like starting a business. You make money if the odds are in your favor.
You also need an edge; this can come from strategy along with effective risk management or insider knowledge.
Quick tips:
- Start small
- Diversify your capital (choose different coins and exchanges)
- Be realistic; faster gains usually come with more risk
- Have a reliable source of income
- Consider crypto as mostly risky, but it doesn’t mean you can’t profit from it
- Don’t pay anyone to learn how to trade
- We are in a bear market, so depending on your strategy, this might be either a good or bad time to buy
- Many people lose money and use the same sources and strategies to learn, so think about that.
It seems Binance is currently the safest and biggest exchange, but from my experience, I’ve made more on smaller and riskier ones.
Hope this helps.
Crypto - DON’T. It’s more risky than worthwhile.
Stocks - study the market before you start. Hard-earned money is hard to lose. Invest smartly.
Pip said:
Crypto - DON’T. It’s more risky than worthwhile.
Stocks - study the market before you start. Hard-earned money is hard to lose. Invest smartly.
Got it, thanks.
My main advice for crypto is to keep researching and don’t get swayed by hype or meme-based coins.
If you’re going to invest and hold, stick with the established blockchains (BTC, ETH) during this crypto winter.
Avoid leaving your funds on centralized exchanges like Binance, PDAX, Coins, and Maya. Opt for local wallets like Metamask or hardware wallets. Your private keys are crucial; don’t lose or share them.
You can also explore decentralized finance (DeFi) by using smart contracts for higher yield returns. Find reliable decentralized exchanges (DEXes) for exchanging your tokens.
I’ve made a lot, but I’ve also lost. Learning a lot this past year has been invaluable. Don’t invest your entire life savings into crypto. When you see profits, ensure you have an exit plan and convert to fiat instead of holding stablecoins.